The economic downturn, the Obama administration and the impact that government policies have had on the nation as well as around the world have all contributed to some major changes in postsecondary education. Whereas “the best and the brightest” were once flocking to jobs within the business and finance sector – both areas where a hefty paycheck was almost guaranteed – a growing number of students are choosing to pursue careers in government, public service, teaching and the sciences instead.

Although it is too early to claim a definite trend, anecdotal accounts from professors and students as well as enrollment in undergraduate courses and the job-placement results of colleges and universities around the country seem to be pointing in that direction. What does seem to be clear, however, is that many of the nation’s young people are no longer turning to the world of finance as their number one job choice.

“In choosing careers, young people look for signals from society, and Wall Street will no longer pull the talent that it did for so many years,” said Richard Freeman, who is the director of the labor studies program at the National Bureau of Economic Research, in an interview in the New York Times. “We have a great experiment before us.”

According to experts, students consider more than just the future stability of a career path when choosing a degree program. Other factors they take into consideration include peer expectations, prestige and public opinion. While those in the business and finance industry once enjoyed prestige thanks to their healthy incomes, this has not been the case lately. Rather, those who choose careers dedicated to working toward resolving the country’s problems are the ones who are enjoying the greatest amount of respect.

“We’re seeing students who would have been part of the Ivy League pipeline to Wall Street in the past considering very different career paths,” commented Lawrence Katz, who is a professor and labor economist at Harvard University, in the New York Times interview.

According to the National Association of Schools of Public Affairs and Administration, 82% of graduate schools of public policy and government have seen an increase in the number of applicants. In fact, many reported seeing the largest percent jump they have seen in several years, with some seeing the largest jump ever.

Although the most commonly stated reason for choosing to enroll in these schools was the fact that students expected to see government job openings increasing over the next several years, many are also expressing interest in this field because they are increasingly coming to believe that the government plays an important role in creating solutions for the future of the country. The recent financial bailouts along with government-sponsored programs within the health care, energy and environmental sectors have all contributed to this change in mindset.

Thanks to the increased dollars President Obama is spending in science, there is also an increased interest in this area as well. In fact, over the next 10 years, Obama plans to increase the amount of funding for research while also tripling the number of graduate fellowships in the area of science. Even before the funding increase, however, there were already signs of a renewed interest in the sciences. Last year, for example, enrollment in computer science programs increased for the first time in six years. Furthermore, Stanford University saw an enrollment increase of 20% among those taking introductory computer science courses.